Dothan Real Estate 101 - What does MLS stand for?
September 11th, 2007 - Categories: Basics of Dothan Real Estate
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
I will be sharing with you in the coming weeks and months some basic knowledge related to real estate here in the Dothan area. Some of this information you will already know, some you may not. The goal is to give you all the information you need to have a good working knowledge of real estate and the real estate transaction.
This particular post has to do with what we call the MLS, which is an acronym for Multiple Listing Service. Nearly all of the real estate companies in Dothan are members of the Dothan Multiple Listing Service, Inc., which basically is a central database of all the information on the homes listed for sale by each member company. Here is how it works. Each time a member of the MLS lists a house or other property for sale, with the seller’s permission, we list it in the MLS. In doing so, we are offering compensation to other MLS members in the hopes that they will bring a buyer for the listed property. Every real estate agent that works with a company that is a member of the MLS has access to information on all the property listed in the MLS, no matter which company has it listed.
This is a great benefit to the seller, because they get exposure to buyers not only through the efforts of the company they list their property with, but every other MLS member company and their agents. This is also a huge benefit to buyers, because they can work with one real estate agent to see basically any property that is listed for sale in Dothan. Buyers don’t have to call the company whose sign is in the yard every time the see a house they want more information on. They can work with one agent to see any property they have an interest in.
If there is a real estate topic that you would like addressed in the Dothan Real Estate 101 series, leave us a comment below. We will be happy to answer any question you may have, and chances are there will be many other readers with that same question.
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This entry was posted on Tuesday, September 11th, 2007 at 9:21 am and is filed under Basics of Dothan Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
[…] At the end of August, there were 885 single family properties listed for sale in the Dothan Multiple Listing Service, a new all-time high. In the last three months, close to 600 new listings have been brought to the market, while there have been only about half that many (335) sold. Of the 885 listed properties, over 200 are new construction homes, also a record high. It certainly looks like there is at least one home for sale on every street in Dothan. […]